Core I Value-Add I Opportunistic

FUNDS ARE CLOSED TO NEW INVESTMENTS

The Opportunistic Funds: Consortium Series

LBC’s opportunistic investment products are represented by the Consortium Series, which consists of Consortium One, LP, Consortium Two, LP, and Consortium Three, LP. LBC, together with The Bernstein Companies, formed the Consortium Series with a total of $241 million of committed equity capital from pension plans and management. The Consortium Series seeks opportunistic returns and has made real estate investments in aggregate of more than $500 million in the Mid-Atlantic region, one of the largest regional Taft-Hartley real estate investment programs. Each fund in the Consortium Series was organized as a limited partnership with a limited term. The funds use leverage and take advantage of The Bernstein Companies 70-year history and expertise in finding unique opportunities and attractive assets in the Mid-Atlantic region.

In 1997, Consortium One was capitalized with a total of $30 million in equity invested by five pension plans. Consortium One acquired eight assets and enhanced the operating performance of the assets. Consortium One was completely liquidated in September of 2002 and achieved a favorable return for its investors. (Past performance is not an indication of potential future returns of other funds.)

In 1999, Consortium Two was organized with $100 million of equity capital committed by nine pension funds, including all of the original investors in Consortium One. Consortium Two made 10 investments, and the fund is in the disposition stage.

In 2002, Consortium Three was formed with $111 million of equity capital. Seven investments were made that included enhancing value through renovation, leasing and repositioning. Consortium Three has sold four assets and is determining exit strategies for the remaining assets in the portfolio.

Key Characteristics of the Consortium Opportunistic Funds include:

• "Opportunistic" real estate investments in Mid-Atlantic markets
• Highly leveraged
• 100% union-built redevelopment and new construction
• Inception of initial fund: July 1997
• Closed-end, limited partnerships, 5-year term
• $241 million aggregate capitalization of 3 funds
• Fully Committed: Invested in over 25 projects

   

Important Disclosure
Please note that nothing on this web site should be construed as an offer to sell or the solicitation of any offer to purchase an interest in any private investment fund affiliated with LBC.